COHEN & STEERS, INC.
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 31, 2025
Contents
Condensed Consolidated Statements of Financial Condition (Unaudited)
(in thousands, except share data)
| September 30,2025 | December 31,2024 | |
|---|---|---|
| Assets: | ||
| Cash and cash equivalents | $98,054 | $182,974 |
| Investments ($89,324 and $109,210) (1) | 415,793 | 335,377 |
| Accounts receivable | 68,326 | 74,389 |
| Due from brokers ($448 and $60) (1) | 2,586 | 1,474 |
| Property and equipment—net | 67,440 | 68,604 |
| Operating lease right-of-use assets—net | 98,748 | 99,200 |
| Goodwill and intangible assets—net | 20,046 | 18,756 |
| Other assets ($455 and $199) (1) | 30,619 | 31,592 |
| Total assets | $801,612 | $812,366 |
| Liabilities: | ||
| Accrued compensation and benefits | $59,972 | $71,049 |
| Distribution and service fees payable | 8,698 | 8,485 |
| Operating lease liabilities | 140,279 | 141,115 |
| Income tax payable | 1,318 | 4,601 |
| Due to brokers ($93 and $170) (1) | 123 | 2,111 |
| Other liabilities and accrued expenses ($387 and $333) (1) | 11,965 | 10,102 |
| Total liabilities | 222,355 | 237,463 |
| Commitments and contingencies (See Note 11) | ||
| Redeemable noncontrolling interests | 14,585 | 53,460 |
| Stockholders' equity: | ||
| Common stock, $0.01 par value; 500,000,000 shares authorized; 58,224,453 shares issued and 51,004,418 shares outstanding at September 30, 2025 and 57,492,567 shares issued and 50,574,641 shares outstanding at December 31, 2024 | 582 | 575 |
| Additional paid-in capital | 982,023 | 943,281 |
| Accumulated deficit | (108,271) | (129,339) |
| Accumulated other comprehensive loss | (4,487) | (10,025) |
| Treasury stock, at cost, 7,220,035 and 6,917,926 shares at September 30, 2025 and December 31, 2024, respectively | (319,555) | (292,781) |
| Total stockholders’ equity attributable to Cohen & Steers, Inc. | 550,292 | 511,711 |
| Nonredeemable noncontrolling interests | 14,380 | 9,732 |
| Total stockholders’ equity | 564,672 | 521,443 |
| Total liabilities, redeemable noncontrolling interests and stockholders’ equity | $801,612 | $812,366 |
(1)Amounts in parentheses represent the aggregate balances at September 30, 2025 and December 31, 2024 attributable to variable interest entities (VIEs) consolidated by the Company. The assets may only be used to settle obligations of each VIE and the liabilities are the sole obligation of each VIE, for which creditors do not have recourse to the general credit of the Company.
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